10-23-2013 EDAMEDA Board Meeting
Main Conference Room — City Center
11:30 AM Wednesday, October 23rd, 2013
Members present in bold.
MEETING MINUTES
Members
Tim Ulrich Steve Jansick
Mary Christensen Mike McGraw
Staff
Lee Miller, EDA Director
Nate Keller, EDA Assistant
Andy Reid, City Controller
Daron Vanderheiden
Jonny Block
Liaison
Mary Hodson, Chamber President
Call to order- The meeting was called to order at 11:34 a.m.
II. Approve Agenda — No Action
III. Review Meeting Minutes
A. September 25th Board of Directors
Chad Czmowski
M/S/P: Ulrich, McGraw to approve the minutes as written; passed unanimously.
B. September 18th Finance Team
M/S/P: Block, Czmowski to approve the minutes as written; passed unanimously.
IV. Review September EDA Financial Statements — Andy Reid
• Cash available in operations is $143,267.
• $56,736 is reserved (proceeds from Warrior land sale) and $82,157 is unreserved.
• The Economic Development Loan fund has $1,117,814 in cash available.
• $100,000 is reserved (Luce Line Trail contribution) and $13,911 for Depot/ farmers
market costs. $1,003,903 is unreserved.
• Loan payments for the month were $9,759.
• Downtown revolving loan fund has $173,936 in cash available; $171,936 is unreserved,
loans totaling $768,281 and $201,329 in capital assets (Cenex & Wright property).
• Loan repayments totaled $10,095 for the month.
• MIF Loan fund has $221,957 in cash available and loans receivable of $311,583
(NuCrane).
• Loan payments for the month were $0.
M/S/P: McGraw, Christenson to approve the financials as presented; passed unanimously.
V. Director's Report
A. JUMPSTART DOWNTOWN: Bakery has opened. The Board discussed continuing the
competition in 2014.
M/S/P: Block, Czmowski to recommend approve an allocation of $10,000 from the
downtown loan fund to continue the JUMP-START DOWNTOWN program for 2014;
passed unanimously.
B. Depot Marketplace Redevelopment: Pavilion is being erected. Depot work is
progressing.
C. Hwy 22: Staff referenced the importance of strengthening the connection of Hwy 22 and
212 as a key transportation artery. Staff informed the Board about a Origin and
Destination study that was commissioned by the Engineering Dept. Staff also informed
the Board that a letter of interest was submitted to MNDOT regarding the Corridors of
Commerce Program. The letter was signed by representative of McLeod Co. and the
cities of Glencoe and Hutchinson.
D. 2014 Work Plan Discussion: Staff briefed the Board about the 2014 strategic plan
including goals and project plans.
E. Business Incubator: Staff is inquiring about different avenues to take with the incubator
including the prospectus of leasing or buying an empty building for the incubator.
F. Econofoods: Staff informed the Board about the impending closure of the store. Staff
met with management of the store to discuss future plans and uses of the building.
G. Land Write Down Program: Staff is researching the possibilities of resurrecting the
Land Write Down Program.
H. SBDC: The southwest SBDC, located in Marshall, has recently contacted staff about
locating a satellite office in town. Staff to assist in finding a suitable location.
VI. Grant and Loan Applications
Sign and Awning Grant Program
Don Hartung $566.38
7th Main Street North
M/S/P: McGraw, Block to approve sign and awning grant request; passed unanimously.
VII. Chamber Update — Chamber looking at making Crazy Days a bigger event for 2014.
VIII. Other Business- none.
IX. Set Next meeting — November 27th, 2013 11:30 AM
X. Adjourn -
With no further business to attend to, the meeting was adjourned at 12:47 PM
Respectfully Submitted,
Nate Keller
EDA Intern